GE Digital buys IoT co IQP for $40m

Guy Kaplinsky

IQP has developed a Code Free Application Development Environment, which enables users to create their own Industrial IoT applications.

GE Digital is acquiring Israeli-Japanese Internet-of-Things (IoT) startup IQP . While IQP CEO Guy Kaplinsky has confirmed reports about the acquisition no financial details have been disclosed although sources close to the deal believe it was for $30-40 million.

Founded in 2011 by Kaplinsky and his Japanese wife Maki Kaplinsky, IQP has developed a Code Free Application Development Environment, which enables users to create their own Industrial IoT applications. IQP provide users with web-based visual programming interface and ready-to-use design templates for rapid Code-Free application development and customized applications. Customers include Toyota, Motorola and Fujitsu. IQP has previously collaborated with GE Digital and graduated from its accelerator in Herzliya.

Headquartered in Tokyo and with offices in Palo Alto, IQP has 15 Israeli employees at its development center in Herzliya. These employees will now join GE Digital's Israel team.

This is GE Digital's second acquisition in Israel this year. In February, GE Digital acquired monetization platform Nurego, which is now helping GE Digital accelerate industrial IoT business models.

Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Guy Kaplinsky
Guy Kaplinsky
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